Sourcing Fee definition
Sourcing Fee means the sourcing fee which is paid to the Asset Manager as consideration for assisting in the sourcing of such Series Asset and as specified in each Series Designation, to the extent not waived by the Managing Member in its sole discretion.
Sourcing Fee means the sourcing fee which is paid to the Managing Member or its Affiliate as consideration for assisting in the sourcing of such Series Asset and as specified in each Series Designation, to the extent not waived by the Managing Member in its sole discretion. For Empire Series, the Sourcing Fee is $5,350 not to exceed 1.0% of the Offering, unless all or a portion is waived by the Managing Member in its sole discretion. For City Park Quad (Columbus) Series, the Sourcing Fee is $5,350 not to exceed 1.0% of the Offering, unless all or a portion is waived by the Managing Member in its sole discretion.
Sourcing Fee has the meaning assigned to such term in Section 6.1.
Examples of Sourcing Fee in a sentence
Consignor recognizes that Consignee will also charge its investors a Sourcing Fee (as described in the Offering Circular and generally equal to 15% of the Purchase Price) to store, insure, transport and maintain the Asset following its Purchase, and the sum of the Sourcing Fee and Purchase Price is referred to herein as the “Acquisition Cost”.
Once these tests have been met, the funds will be immediately transferred to the operating account of the Company or Series and used to purchase the Series Asset on behalf of the SP formed for such purpose and to fund the Sourcing Fee to the Asset Manager.
The consideration payable to the Asset Manager for managing the Series Asset will be the Sourcing Fee and the other consideration set forth in the Asset Management Agreement.
More Definitions of Sourcing Fee
Sourcing Fee means a percentage of Par equal to one (1) basis point, or .01%; provided, however, that such Sourcing Fee shall be increased to two basis points, or .02%, during any fiscal quarter in which the average Dwell Time during the prior fiscal quarter was greater than three (3) calendar days.
Sourcing Fee means the sourcing fee paid to the Asset Manager by the Investor Members in a particular Series equal to six percent (6%) of the Purchase Price of the Artwork acquired by such Series. SP means a segregated portfolio established by ▇▇▇▇▇▇ to own a specific Artwork. Subscription Agreement means the agreement to be executed by each Investor Member (i) reconfirming, among other matters, the representations and warranties made in its Auction Agreement, including Accredited Investor status, and (ii) confirming its agreement (A) to accept the Class A Shares allotted to the Investor Member upon funding its Capital Contribution associated with its Winning Bid, and (B) to be bound by the terms of this Agreement.
Sourcing Fee means a fee payable to the Managing Member for identifying a Series Property and its efforts to evaluate a Series Property, which fee will equal an amount of up to 10% of the gross offering proceeds of any applicable Initial Offering or Subsequent Offering in which Company raises capital for the purpose of a Series acquiring a Series Property.
Sourcing Fee means a percentage of Par equal to three (3) basis points, or .03%; provided, however, that such Sourcing Fee may be reduced by the Service Provider to (i) two and one-half basis points, or .025%, during any fiscal quarter in which the average Dwell Time during the prior fiscal quarter was less than three (3) calendar days and equal to or greater than two and one-half (2.5) calendar days, or (ii) two basis points, or .02%, during any fiscal quarter in which the average Dwell Time during the prior fiscal quarter was less than two and one-half (2.5) calendar days, in either case only to the extent the reduction in the average Dwell Time was the result of the Company’s projected capital needs; and provided further, that such Sourcing Fee shall be increased to three and one-half basis points, or .035%, during any fiscal quarter in which the average Dwell Time during the prior fiscal quarter was greater than five and one-half (5.5) calendar days.
Sourcing Fee shall have the meaning set forth in Section 6.10 herein.
Sourcing Fee means the sourcing fee paid to the Asset Manager by the Investor Members in a particular Series equal to a percentage of the Purchase Price of the Series Asset acquired by such Series, as designated in the associated Offering. SP means a segregated portfolio established by Cayman established to own a specific Series Asset.
Sourcing Fee means $100,000 to be paid to Kyle Williams pursuant ▇▇ ▇▇▇▇ ▇▇▇▇▇ment.